For those in the market for a Toyota or Lexus hybrid (or both), you’re in a bit of luck. However, it depends on the model that you have in mind.
That’s because these brands have proceeded to reduce their prices on their respective hybrid models. Good stuff, right? Well, there is a bit of a catch.
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If you were planning to buy a Yaris Cross S HEV, Corolla Altis HEV, or any variant of the recently facelifted Toyota Corolla Cross, don’t hold your breath for lower prices. The same goes for the Toyota Zenix HEV and Toyota Camry.
Why, you ask? It’s only the Japan-made hybrids that get price cuts because of Executive Order 62. The Toyota Yaris Cross S HEV and Zenix Q HEV are made in Indonesia. Meanwhile, the Toyota Corolla Altis HEV, Corolla Cross HEV, and Camry are made in Thailand. Thus, these electrified models do not receive the benefits of EO 62.
The reason why those cars don’t get price cuts is because of the ASEAN Free Trade Agreement (AFTA). These cars are already sold at lower prices because of the agreement and applies to their hybrid and non-hybrid counterparts if applicable.
So, what Toyota and Lexus models enjoy the reduced prices? From Toyota’s stable, there are three. These are the Toyota RAV4 XLE and LTD, as well as the Alphard. Over at Lexus, it’s the entire electrified range from the entry-level LBX crossover, all the way to the LS flagship sedan and ultra-luxurious LM minivan.
Toyota
With the tax benefit in place, how much cheaper are these hybrids now? Kicking off with Toyota, the RAV4 XLE and LTD now retail for P2,061,000 and P2,371,000, respectively. There was actually a price increase prior to reduction, with the XLE at P2,356,000 and the LTD at P2,696,000. That’s P295,000 off the XLE and P325,000 for the LTD.
As for the Alphard, there’s only one variant for it. When it was first launched, it retailed for P4,980,000. More recently, there was a price increase that bumped it to P5,085,000. Thankfully, EO 26 has brought that back down to P4,685,000, even less than its introductory price.
Lexus
Moving to Lexus, let’s start off with its newest (and least expensive) model in its range, the LBX. At launch, it was priced at P2,968,000, but it’s now P2,558,000, a reduction of P410,000.
For the UX, it’s now P2,938,000 (-P440,000) for the 300h Premier and P3,368,000 (-P470,000) for the 250h F Sport.
For the NX, the hybrid variants consist of the 350h Executive and 350h Premier. These now carry a price tag of P3,158,000 for the Executive (-P430,000), and P4,228,000 for the Premier (-590,000). Prior to EO 26, these NX hybrid models sold for P3,588,000 and P4,818,000.
On to the RX, the hybrid models now start at P4,778,000 (-P490,000) for the 350h Executive, P5,468,000 (-P950,000) for the 350h Premier, and P6,418,000 (-P490,000) for the 500h F Sport.
For the sedans, the IS 300h Executive and Premier see a reduction of P400,000 and P430,000, respectively. That brings prices down to P2,868,000 for the Executive and P3,098,000 for the Premier.
On to the ES 300h, the three variants now start at P3,498,000 (-P380,000) for the Executive, P3,808,000 (-P450,000) for the Luxury, and P4,188,000 for the Premier.
And now, for the flagship hybrid models. The LS 500h sees a new variant in the form of the Executive. Because of EO 26, Lexus is able to give it an SRP of P5,468,000, easily making it the least expensive electrified flagship luxury sedan in the country today. Meanwhile, the Premier 5-seater now starts at P9,038,000 (-P900,000), while the plusher 4-seater model is down to P11,158,000 (-P1,090,000).
We finish the list with the LM 350h. Prices for these used to be at P7,738,000 for the 7-seater and P12,048,000 for the mobile executive lounge that is the 4-seater. Now, the 7-seater is P580,000 less than before at P7,158,000, while the 4-seater is a P1,330,000 less at P10,718,000.
